Right time for investors to buy property in Delhi NCR
Luxury property market in Delhi NCR is largely driven by High Net-worth Individuals (HNIs). However, in a scenario where economic downturn is biting every industry, real estate buyers in this segment are also observed to be confused in investing in high ticket size apartments. In conversation with Neha Nagpal of Magicbricks.com Bureau, Gautam Thapar, director, Thapar Group talks about luxury market trends in Delhi NCR. Excerpts from the interview:
What is the trend in Delhi NCR? Is the middle-class income group moving towards lifestyle and luxury living?
The middle-class income group is inclined in moving towards affordable luxury or value living luxury, especially if it is to buy for themselves only and not for investment reasons. When I say affordable luxury, I mean apartments greater than 2,000 sq feet and within the Rs 2 crore budgets. Similarly, the current trend in Delhi NCR, depending on one’s income bracket, is to upgrade from the existing plotted houses in congested localities to better upscale residential towers with far more amenities and ranging less than the price of their existing homes.
What is the profile of buyers of luxury apartments?
The typical profile of a buyer of a luxury project similar to our project – ARTHAH is someone who wants to upgrade to a newer building with superior design, more facilities and someone looking for their new home to be a status symbol for them. In specific terms, I would mean a small to medium size business owner, an entrepreneur, a top company executive, government employees on high posts etc.
Which investments are more – local or NRI’s? Can you give us the ratio?
Local investors are definitely more and the ratio would be 60: 40. However, with the recent dip in the value of Rupee, more NRIs are investing in Indian real estate. The growing disparity in the values of Dollar and Rupee will result in more appreciation on any investment in the long run. Even developers are targeting NRIs since the last eight months as they know that NRIs are better placed to deploy funds than the local investors in the current economic scenario.
Is it this the right time to invest in a property in Delhi NCR? And why?
Yes, this is the perfect time to invest in a property in Delhi NCR as the market has slanted largely in the favour of the buyer. In the last few months, high interest rates and inflation had resulted in low demand. Therefore, this year the developers are offering good discounts and pre-launch benefits to the investors. A wise investment is more likely to yield high appreciation in the long run.
Posted on November 7, 2013, in Real Estate and tagged Flats in Delhi NCR, Flats in Noida, Property in Greater Noida West, Real Estate Company in India, Real Estate India, Sanjay Rastogi, Sanjay Rastogi Builder, Sanjay Rastogi Builders. Bookmark the permalink. 1 Comment.